![]() ![]() Wage growth has inched up, 0.1 percent, in line with expectations, but still relatively subdued at this point of the labor market cycle.Women’s participation has been fueled by growth in industries that generally employ a higher share of women, such as healthcare and education, while men’s participation has been held back by a decline in manufacturing jobs and factors such as the opioid crisis and lower graduation rates than women. While labor force participation among women has returned by to pre-recession rates, male participation rates are still well below. Over the past 10 years, immigration has been a significant contributor to the domestic labor force, accounting for half of labor force growth. In addition, immigration of foreign-born workforce has slowed dramatically. Nevertheless, the decreased unemployment rate primarily stemmed from a drop in labor force participation, which has been improving in recent years but was inevitably going to decline due to demographic factors like retiring baby boomers and lack of population growth. The unemployment rate, falling to 3.6 percent, hit another 50-year low (the lowest rates since 1969).Software and application developers continue to be the most in-demand talent companies are looking to hire, with 78,000 job postings last month. ![]() According to a new CompTIA report, the information-technology sector added 18,900 jobs in April, with hiring in technology services, custom software development and computer systems design leading April job growth.Retail trade employment, particularly in general merchandise stores, are continuing to weaken. Other sectors experiencing notable growth include construction (up 33,000 jobs),healthcare (up 27,000 jobs),and social assistance (up 26,000 jobs). Notable job gains continue to bolster professional and business services (up 76,000 jobs),which comprised about one fifth of last year’s employment growth.The strong gain adds to the upward revisions of the two previous months, bringing the year-to-date monthly average to 205,000 jobs added, only slightly below the 223,000-monthly average in 2018. Bureau of Labor Statistics once again outpaced expectations by posting a 263,000 increase in jobs added in April. Today’s national employment report from the U.S.Jobs Report: Are we in a Goldilocks Economy?Ī Goldilocks Economy is an economy that is neither too hot or cold, in other words, it sustains moderate economic growth and has low inflation, which allows a market-friendly monetary policy. Share More Share on Facebook Share on Twitter ![]()
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